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HM Revenue and Customs has published the latest advisory fuel rates, due to be implemented from 1 March.
Rates of reimbursement for diesel models with engines below 2000cc have been reduced by 1p, while larger engines receive 2p less per mile
Rates for all petrol models, meanwhile, have been reduced by 1p.
HMRC is undertaking the changes as part of its quarterly review. The rates apply only where employers reimburse staff for business travel in their company cars or require them to repay the cost of fuel used for private travel.
The rates apply to all journeys made on or after 1 March until further notice. However, for one month from the date of change, employers may choose to use either the previous or new rates, as they choose.
Since March 2011 the rates have been reviewed four times a year. HMRC will no longer consider changing the rates - outside of the four scheduled reviews - if fuel prices fluctuate by more than 5% from the published rates
Reimbursement rates from 1st March 2016 |
|||
|
Engine Size |
Petrol |
Engine Size |
Diesel |
|
1400cc or less |
10ppm |
1600cc or less |
8ppm |
|
1401cc to 2000cc |
12ppm |
1601cc to 2000cc |
10ppm |
|
Over 2000cc |
19ppm |
Over 2000cc |
11ppm |
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